Brokerages Set Alexander & Baldwin, Inc. (NYSE:ALEX) Price Target at $21.67

Shares of Alexander & Baldwin, Inc. (NYSE:ALEX) have been assigned an average recommendation of “Moderate Buy” from the four ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $21.67.

A number of analysts recently commented on ALEX shares. StockNews.com upgraded Alexander & Baldwin from a “hold” rating to a “buy” rating in a research report on Monday. Alliance Global Partners assumed coverage on Alexander & Baldwin in a report on Thursday, August 8th. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Piper Sandler restated an “overweight” rating and issued a $23.00 target price (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th.

Alexander & Baldwin Trading Up 0.3 %

Shares of ALEX stock opened at $19.03 on Monday. Alexander & Baldwin has a 12 month low of $15.53 and a 12 month high of $20.30. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $19.14 and its two-hundred day moving average is $17.90. The company has a market cap of $1.38 billion, a PE ratio of 31.20 and a beta of 1.26.

Hedge Funds Weigh In On Alexander & Baldwin

A number of institutional investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System raised its holdings in shares of Alexander & Baldwin by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 36,500 shares of the financial services provider’s stock worth $619,000 after acquiring an additional 600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Alexander & Baldwin by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 727 shares during the last quarter. Van ECK Associates Corp grew its position in Alexander & Baldwin by 7.0% in the 2nd quarter. Van ECK Associates Corp now owns 11,136 shares of the financial services provider’s stock valued at $189,000 after acquiring an additional 733 shares during the last quarter. GAMMA Investing LLC grew its position in Alexander & Baldwin by 103.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 759 shares during the last quarter. Finally, Texas Permanent School Fund Corp grew its position in Alexander & Baldwin by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 63,483 shares of the financial services provider’s stock valued at $1,046,000 after acquiring an additional 822 shares during the last quarter. 91.29% of the stock is owned by institutional investors.

Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai’i commercial real estate and is the state’s largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai’i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.